Estimated projects in nature protection worth US $420m – minister

Armenia’s minister of nature protection said Friday that his agency and specialists responsible for the sector are now envisioning new ideas and initiatives worth about US $420 million.

Artsvik Minasyan said that 25 investment projects with an estimated cost of US $ 184.5 million are now under implementation.

“One of the projects proposes increasing energy efficiency in municipal economies. It will help us to annually reduce 580 tons of CO2 and curtail the costs of exploitation,” he told reporters.

The minister said they are now considering keynote proposals aimed at directing financial resources to environmental protection. In his words, the annually collected sums, amounting to US$70 million, are only partially spent to the purpose.

“If we succeed, the international organizations are willing to provide extra sums in the form of grants. Additionally, all the projects that have so far been implemented will from now on receive a grant funding,” he added.